Rua Gold (TSX-V:RUA) has upsized its brokered finance offer with Raymond James to raise C$24.99 million, bringing the total capital raise to C$29.99 million ($31.83 million).
Under the brokered finance offer, Rua will issue 22.73 million shares at C$1.10 per share, adjoined with non-brokered financing offer raising the remaining C$5 million, as reported by Mining.com.au.
Raymond James and Cormark Securities are acting as joint bookrunners and co-lead agents on behalf of a syndicate of agents, including Beacon Securities.
Rua says the upsized raising is due to strong investor demand.
Funds will be used to advance exploration and development at the Reefton and Glamorgan projects in New Zealand.
Rua Gold is a mineral explorer strategically focused on discoveries in New Zealand.
Write to Maddison Elliott at Mining.com.au
Images: Rua Gold
